Right Price, Right Move!
Following our recent update on the local property market from our Co-Founder & Owner, Alex Mackay, we asked Alex for a quick review of the sales activity that has occurred over the last 10 days and give us his comments on Rightmove's latest House Price Index
“Well, some of you would have read my recent market comment suggesting there is a good deal of optimism about the 2024 property market. The last 10 days have given me no reason to think differently.
However, it's important to remember that if you have “heat” in your asking price then you are likely to struggle to make your sale. I, and Rightmove’s latest House Price Index report, made this abundantly clear. It's only properties that are competitively priced that are generating activity and offers. Therefore it is really important that if you want to move now you get the price right. Please listen to your agent on the advice you have been given. All good agents are currently tracking their local property market very closely and staying up to date with the local property indices.”
The quote below is from Rightmove’s latest House Price Index (19.02.24):
“However, the market remains very price-sensitive, and appears to be operating at two speeds, with properties that are priced accurately being snapped up by budget-conscious buyers, whilst over-priced properties are left on the shelf:
- Rightmove analysis shows that sellers who price right initially are far more likely to sell quickly.”
If you have any questions on the current property market, then please do not hesitate to get in contact with Alex on alex@mishonmackay.com